Sharekhan has given Buy recommendation for Bajaj Finance with a target price of Rs. 9097 in its research report issued on Jan 18, 2022
Sharekhan’s research report on Bajaj Finance
Q3FY2022 consolidated PAT saw robust 54% y-o-y and 43% q-o-q growth to Rs.2,125 crore versus our expectation of Rs. 1,756 crore, aided by strong NII and other income growth, albeit on a lower base. NII grew by ~41% y-o-y. Asset quality improved during the quarter. GNPA declined by ~70 bps q-o-q to 1.73% in Q3FY2022. PCR on GS3 stood at 55.6% versus 51.5% in Q2FY2022. Consolidated AUM at Rs. 1.81 trillion was up ~26% y-o-y/~9% q-o-q, added Rs. 14,700 crore worth of loans sequentially.
We maintain Buy with an unchanged PT of Rs. 9,097.
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At 16:00 hrs Bajaj Finance was quoting at Rs 6,932.75, down Rs 440.30, or 5.97 percent.
It has touched an intraday high of Rs 7,368.00 and an intraday low of Rs 6,821.05.
It was trading with volumes of 85,442 shares, compared to its thirty day average of 65,656 shares, an increase of 30.14 percent.
In the previous trading session, the share closed down 2.11 percent or Rs 158.85 at Rs 7,373.05.
The share touched its 52-week high Rs 8,043.50 and 52-week low Rs 4,361.60 on 19 January, 2022 and 19 April, 2021, respectively.
Currently, it is trading 13.81 percent below its 52-week high and 58.95 percent above its 52-week low.
Market capitalisation stands at Rs 418,456.87 crore.